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Chapter 11 announced - Part 12 - District Court


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Omni created a new docket for the appeals here:  Consolidated Appeals of Confirmation Order Lengthy scheduling order is here:  https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/e4a87bc5-4

It has been a while, but it feels like we are getting close to the end (or the beginning of the actual trust). It doesn't seem like District Court is pushing to overturn.  In Purdue, the confirma

If only all that money BSA poured into the cash sink that is Summit (north of $750 million) was available and had NOT been dumped by the truckload in West Virginia

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38 minutes ago, InquisitiveScouter said:

They either secure loans, donations, sell more assets, etc. (some form of cash infusion),  or file Chapter 7.

My tangent - Already discussed probably over a year ago.

Chapter 7 now is a path that few would "financially" want as it makes all the money spent to-date on chapter 11 mostly wasted and restarts another legal spending spree with many, many new complexities.  Different priority sequence for debt holders.  Chapter 11 negotiated third party (insurers, BSA councils, churches) releases that provided a lot of cash become new independent litigation.  

"I think" (my opinion) is that Chapter 7 would reduce the amount injured parties receive and delay the payments for years.  

Edited by fred8033
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5 hours ago, Eagle1970 said:

In the case at hand, what is the probability of Chapter 7?

Low chance ... even after they burn through their own cash, National BSA can definitely pull money from councils.  Ch7 is a disaster. 

 

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38 minutes ago, Jameson76 said:

If only all that money BSA poured into the cash sink that is Summit (north of $750 million) was available and had NOT been dumped by the truckload in West Virginia

You mean that Summer Camp on steroids that is competing with all the Summer Camps of the surrounding councils?

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1 hour ago, Jameson76 said:

If only all that money BSA poured into the cash sink that is Summit (north of $750 million) was available and had NOT been dumped by the truckload in West Virginia

After a few billion dollar mistakes it starts adding up to a lot of money.  

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17 hours ago, Eagle1993 said:

Low chance ... even after they burn through their own cash, National BSA can definitely pull money from councils.  Ch7 is a disaster. 

 

You mean pull from members and volunteers via councils.

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1 hour ago, InquisitiveScouter said:

You mean that Summer Camp on steroids that is competing with all the Summer Camps of the surrounding councils?

OH MY WORD! Did you see the prices for their summer camp. And that does not include tents or cots, which are extra. My Scouts were interested, until they saw the price tag

My worry is that when all the council mergers start, and camps start being sold, Summit will be the closest option for us. 

On a different note, I wonder what those council camps that are "leased" by councils will do.

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1 hour ago, Eagle94-A1 said:

OH MY WORD! Did you see the prices for their summer camp. And that does not include tents or cots, which are extra. My Scouts were interested, until they saw the price tag

My worry is that when all the council mergers start, and camps start being sold, Summit will be the closest option for us. 

On a different note, I wonder what those council camps that are "leased" by councils will do.

The Summer Camp near us (different council) upped their prices $200 per head from 2 years ago when we attended.  A one-third increase.  So, we dropped them from consideration in favor of other councils' camps who did not do the same...

But... see link page 3... the Summit 2022 Summer Camp is about average market price.

https://summitbsa.wpenginepowered.com/wp-content/uploads/2021/11/Summit-Bechtel-Reserve-Program-Planning-Guide.pdf

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14 minutes ago, Eagle94-A1 said:

@InquisitiveScouter,

 

That was the 2022 price. Here are the 2023 prices. And note they are subject to change. That is over $100 more than what we are paying.

 

 

image.thumb.png.e39e997c6e51e15ee603a8792369ac43.png

Well.  I guess as long as they are the "Disneyworld of the BSA" might as well charge for it.  Will there be lightning pass and character breakfast options?

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If I had my way, instead of summer camp, we would be doing our own HA trip. Unfortunately not only is my CC pushing MBs and advancement, but that is what the Scouts want as well. Heck the camp we are going to, which is charging $330, suggests having the last period open to take advantage of free shooting, swimming, and boating, and the comment made "you are paying for classes, need to take advantage of them."

When we were looking at camps, most were over $400. Few, if any, of my Scouts could afford them. I suggested a weeklong backpacking trip on the AT,  and was told it would be a wasted summer because they couldn't earn MBs. Same person said while Philmont was great, it was a wasted trip because the Scouts didn't earn any MBs.

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24 minutes ago, Eagle94-A1 said:

If I had my way, instead of summer camp, we would be doing our own HA trip. Unfortunately not only is my CC pushing MBs and advancement, but that is what the Scouts want as well. Heck the camp we are going to, which is charging $330, suggests having the last period open to take advantage of free shooting, swimming, and boating, and the comment made "you are paying for classes, need to take advantage of them."

When we were looking at camps, most were over $400. Few, if any, of my Scouts could afford them. I suggested a weeklong backpacking trip on the AT,  and was told it would be a wasted summer because they couldn't earn MBs. Same person said while Philmont was great, it was a wasted trip because the Scouts didn't earn any MBs.

Advancement over adventure.  You and I both know they have it backwards.

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